This Week's Fresh Listings and Notable Sales [Get 'Em Hot]

Ready for Memorial Day Weekend? It's time to see some houses. We've sifted through this week's new listings to bring you the most interesting, fresh, and desirable properties on the Boulder market. No old, refreshed listings pretending to be new. No bad locations or egregiously overpriced shacks. 130 new properties his the market in Boulder county this week. 19 are already under contract. Here's what's worth a look this weekend.

Oh and as a bonus, we've decided to include recent and notable sold properties with some insights into the negotiation.

Sold Listings of Note1476 Periwinkle Drive | $949,000 | More DetailsIt’s a little surprising to see a house in Orchard Park sell at a premium when many sold at large discounts (or not at all) during the last cyclical downturn. It’s a location where buyer caution is warranted. This one was under contract immediately, 48 days on market, financed. It closed 1.5% over asking.3004 6th Street | $874,000 | More DetailsHere's a buyer who rolled the dice. It’s a tiny historic house on a smaller than typical lot in a Newlands where scrape and build redevelopment is hotly contested. Due diligence for the buyer (and the buyer’s agent) should have included an analysis of feasibility and an in-depth discussion with the Landmark’s board. Pro-tip: never rely on the seller’s documentation and research. Sold immediately, 12.8% over asking, cash.

2103 Mapleton Avenue | $840,000 | More DetailsA historic 1 story with 3 bedroom, 2 baths in one of the most desirable parts of Boulder. Sold immediately, 5.1% over asking, cash.

1921 Goss Street $700,000 | More DetailsHigh nearby student density, a tenant occupant paying well below market rent, no updates, and a small lot is why this one struggled to sell. It didn’t help that the first buyer walked out of the deal, but it allowed the second buyer snatched it up for a 3.4% discount from asking. Closed at $700K. 42 days before the winning offer was received, 3 months on market.

2948 19th Street | $620,000 | More DetailsSold for $620K, 4.6% less than asking. 2 weeks on the market. 19th street is a busy location, so it's not a surprise this one took a little longer and the seller eventually accepted a discount. From a valuation perspective, you can add at least 10% for a non compromised location. Note: we discourage our buyers to even look at property in bad locations. If you see it, all you can do is talk yourself into a poor investment decision.

4475 Laguna Place 302 | $444,444 | More DetailsHere’s a one bedroom in the same location as 560 Mohawk (see below). It sold for asking, the buyer used a VA loan. Underground parking (2 cars!), lots of square footage (for a one bedroom), and interesting layout. Unlike many Boulder condo associations, Villa Del Prado allows pets.

560 Mohawk Drive 34 | $336,000 | More DetailsSold for asking, never hit the MLS, and the buyer did not pay cash. You’ve got to wonder. Did the seller know that bidding wars are normal for this property type and location. The last sold unit in Meadows on the Parkway went for 3.3% over asking in 3 MONTHS AGO, when there were far fewer buyers in the market.

My guess? The seller didn’t know. But hey, what’s ten or twenty thousand left on the table?

Fresh ListingsTo schedule private showings, which includes a discussion of valuation and price trends, call Osman at 303.746.6896.

Boulder 2045 Mapleton Avenue | $2,950,000 | More DetailsIt's true, houses of this pedigree and stage of restoration rarely come along. The challenge is that valuation is complex because comparable sales are rare. One approach is to take a close comp from another time period and add the appropriate appreciation rate for the location. At the asking price, this one is a stretch for being east of Broadway. It's still worth a look for its relative rarity but from a negotiation perspective, we advise our clients to let it season a few weeks before making an offer. 1014 Mapleton Avenue | $2,100,000 | More DetailsHere’s a smarter investment than 2045 Mapleton. It's west of Broadway, needs a remodel but it’s a good candidate for the investment. Large lot, steps from downtown Pearl St. It also likely has some seasonal views (when the leaves are gone).

717 Evergreen Avenue | $915,000 | More DetailsNearly two years ago, the seller of this house listed it. They took it off the market after 3 months. The asking price back then was $749K. If you missed out on 3004 6th (see above), here’s another shot at rolling the dice. The same feasibility risks apply. Conduct careful due diligence. As I recall from seeing it in 2014, the orientation of the existing house on the lot (with respect to the alley) might be an issue.

Do you want to live close to downtown but skip the hassle (and cost) of a historic home? Here’s a cheap entry into ownership. Note, the HOA is inexpensive because the owners are responsible for maintenance. Look carefully for likely potential special assessments to fund needed repairs.

960 34th Street | $539,000 | More DetailsThe new price for entry level ranches in S. Boulder is $560K. This one is an example. For young professionals and those affiliated with CU, it’s an ideal location. Due diligence: Lots of students nearby.

620 Pearl Street A | $365,000 | More DetailsThese tiny units are funky but a no-brainer if you want a hip living space on West Pearl. At $365,000 it will fly off the market for cash. Get ready for the hipster bidding war.

60 S Boulder Circle 60-6025 | $365,000 | More DetailsThese mid 80’s construction condos in South Boulder are a good option for young couples or single professionals. Access to open space and commuting are very efficient. Not cool or hip like 620 Pearl, but a solid alternative option - especially if you are not paying cash. The retail mix at the nearby Table Mesa plaza is rapidly improving.

Investment Opportunities 1241 Balsam Avenue | $1,595,000 | More Details4-one bedroom and 2-two bedroom units for an asking price of $1.6MM. A great location for a buy, upgrade, and up the rent investment. $200K/bed and future rent at over $1,000+ bed.

Follow us on Twitter.As always, your referrals are deeply appreciated.--The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.Image credit: Hoach Le Dinh

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

Please Note

This document contains forward-looking statements. You are strongly cautioned that investment results are subject to business, economic and other uncertainties. There are no guarantees associated with any forecast and the opinions stated here are subject to change at any time. Always consult your financial advisor before making an investment decision.

More Testimonials

Licensing

If we become aware that one of our users is a repeat copy-right infringer, it is our policy to take reasonable steps within our power to terminate that user.

If you believe that your intellectual property rights have been violated by House Einstein or by a third party who has uploaded Content on our Site, please provide the following information to Osman Parvez.

a. A description of the copyrighted work or other intellectual property that you claim has been infringed;

b. A description of where the material that you claim is infringing is located on the Site;

c. An address, a telephone number, and an e-mail address where House Einstein can contact you and, if different, an e-mail address where the alleged infringing party, if not

House Einstein, can contact you;

d. A statement that you have a good-faith belief that the use is not authorized by the copyright or other intellectual property rights owner, by its agent, or by law;

e. A statement by you under penalty of perjury that the information in your notice is accurate and that you are the copyright or intellectual property owner or are authorized to act on the owner's behalf;

f. Your electronic or physical signature.

House Einstein may request additional information before removing any infringing material. House Einstein may provide the alleged infringing party with your e-mail address so that that person can respond to your allegations.

House Einstein has registered a designated agent with the Copyright Office pursuant to 17 U.S.C. 512 ( c ). If you believe your copyright material is being used on this Site without permission, please notify the designated agent (Osman Parvez) at: osman@realtyunique.com

@2016 -PersoMag. All Right Reserved. Designed and Developed by FancyTheme

House Einstein is a service of Realty Unique, a real estate brokerage based in Boulder, CO. Powered by Blogger.